Siemens Q1 results: Profit declines 18% to ₹343 cr, revenue at ₹4,714 cr

Siemens Ltd on Tuesday reported an over 18 per cent decline in its net profit to ₹343 crore in the June quarter, mainly due to volatility in commodity prices, foreign exchange and an increase in material costs.

The net profit was ₹422 crore in the year-ago quarter, a company statement said.

Its revenue from operations increased to ₹4,714 crore in the quarter from ₹4,108 crore a year ago.

The company said profitability was impacted by volatility in commodity prices, foreign exchange, and an increase in material costs.

New orders increased to ₹6,328 crore in the quarter from ₹5,431 crore a year ago.

 

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, said, "Domestic demand continues to be strong during the quarter, with ordering by both the private and public sectors. This was reflected in the company's strong new order growth during the quarter, primarily driven by the Smart Infrastructure business. Our focus continues to be on profitable growth across all our businesses".